Stolt-Nielsen Limited : Stolt Sea Farm Acquisition to Support Sole Production
LONDON, September 7, 2012 - Stolt-Nielsen Limited (Oslo B?rs: SNI) announced today that its wholly owned subsidiary Stolt Sea Farm (SSF) has agreed to acquire Acuidoro S.L., a turbot farm in Cervo, northern Spain. The transaction includes Alrogal S.A., a wholly owned subsidiary that operates a hatchery adjacent to the Acuidoro farm, which SSF will transition to production of juvenile sole.
The transaction is expected to close in October. Financial terms were not disclosed.
Commenting on the transaction, Mr. Pablo Garcia, President of Stolt Sea Farm, said: "This acquisition is aimed at supporting Stolt Sea Farm's production of turbot and the expansion of its sole operations. The hatchery included in the acquisition will provide all the juvenile fish needed for our rapidly expanding sole operations, estimated to be 2000 metric tons by 2016. With this investment, together with the sole farm presently under construction in Iceland, it is estimated that Stolt Sea Farm's turnover will double over that period."
Stolt Sea Farm is a leading producer of farmed turbot and sole, which are marketed under the Prodemar(TM) brand, as well as sturgeon and caviar, marketed under the Sterling(TM) brand. SSF's high-tech land-based farms are recognized for their environmental friendliness and efficient use of resources.
Jan Chr. Engelhardtsen
Chief Financial Officer
U.K. +44 (0) 20 7611 8972
Jens F. Gr?ner-Hegge
V.P. Corporate Finance
U.K. +44 (0) 20 7611 8985
About Stolt-Nielsen Limited
Stolt-Nielsen Limited (SNL or the "Company") is a leading global provider of integrated transportation solutions for bulk liquid chemicals, edible oils, acids, and other specialty liquids through its three largest business divisions, Stolt Tankers, Stolthaven Terminals and Stolt Tank Containers. Stolt Sea Farm produces and markets high quality turbot, sole, sturgeon, and caviar. Stolt-Nielsen Gas, through its investment in Avance Gas Holdings Ltd., transports liquefied petroleum gas (LPG) with a fleet of very large gas carriers (VLGCs). Stolt-Nielsen Limited is listed on the Oslo Stock Exchange.
This press release contains "forward-looking statements" based on information available to the Company on the date hereof, and the Company assumes no obligation to update any such forward-looking statement. These statements may be identified by the use of words like "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "project," "will," "should," "seek," and similar expressions. The forward-looking statements reflect the Company's current views and assumptions and are subject to risks and uncertainties. The Company does not represent or warrant that the Company's actual future results, performance or achievements will be as discussed in the those statements, and assumes no obligation to, and does not intend to, update any of those forward-looking statements other than as may be required by applicable law.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.